Finance Minister Nirmala Sitharaman on Monday said it was “too early” to assess the impact of fresh tariff measures announced by the United States, as India’s commerce ministry reviews the evolving trade situation and prepares for the next round of negotiations.

On Friday, the US Supreme Court delivered a verdict against the sweeping import tariffs imposed by the Trump administration on its trade partners. Subsequently, President Donald Trump imposed a 10 per cent tariff on all countries, including India, from February 24 for 150 days. A day later, on Saturday, Trump announced an increase in the tariffs to 15 per cent.

Asked about the likely impact of these tariff changes on the Indian economy, Sitharaman said it is a "bit too soon" to comment.

"But on the trade particularly, aside from the Indian economy in general, the commerce ministry is reviewing the situation. The delegation will have to take a call on when they are going to go for further negotiations. So it's a bit too early for me (to comment)," Sitharaman said.

Her remarks came as India and the US decided on Sunday to reschedule the proposed meeting of their chief negotiators in Washington, which was to begin Monday to finalise the text for an interim trade pact, according to sources.

Joint Secretary in the commerce ministry, Darpan Jain, is India’s chief negotiator for the agreement.

Talking to reporters after addressing the RBI’s Central Board, Sitharaman reiterated that India remains committed to expanding its global trade footprint.

"So, therefore, our attempt to have a trade agreement will go on with countries, " she said, adding that India wants the economy to have the advantage of trading globally and being able to reach global markets.